Thursday, December 8, 2022
 

Solana (SOL) Price Prediction: Will SOL Price Hit $60 in 2022?

  • Bullish Solana (SOL) price prediction ranges from $34.41 to $59.53.
  • Analysis suggests that the SOL price might reach above $60 soon.
  • The SOL bearish market price prediction for 2022 is $19.94.

Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies, Solana (SOL) is one of them.

Solana is an open-source, public blockchain that facilitates using smart contracts, decentralized applications (dApps), and NFTs (non-fungible tokens). The SOL token, which is intrinsic to the Solana blockchain, serves as a means of exchange and ensures the safety of the network via staking.

If you are interested in the future of SOL and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030, keep reading!

What Is Solana (SOL)? 

Solana is a powerful open-source project that offers DeFi (decentralized financial infrastructure) solutions by leveraging the permissionless nature of blockchain technology. The Solana Foundation, based in Geneva, Switzerland, began conceptualizing and working on Solana in 2017, and the platform was officially launched in March 2020.

The Solana protocol makes it easier to develop decentralized applications (DApps). To increase scalability, a proof-of-history (PoH) consensus is introduced and layered on top of the blockchain’s underlying proof-of-stake (PoS) consensus. The Solana Foundation has devoted a lot of resources to spreading the use of decentralized financial systems.

Solana is well-known in the cryptocurrency space due to the blockchain’s incredibly rapid transaction processing. The hybrid protocol utilized by Solana significantly reduces validation and execution times for both transactions and smart contracts. Solana has attracted a great deal of institutional interest due to its blazing-fast processing times. 

The Solana protocol is designed to serve both casual users and large businesses. According to one of Solana’s primary promises, customers will not be surprised by increased fees and taxes, and the protocol creates low transaction costs while ensuring scalability and rapid processing.

Solana utilizes proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms. Proof-of-history is essential to the Solana protocol, as it handles most transaction processing. PoH logs successful operations and the interval of time between them, ensuring the blockchain’s lack of trustworthiness. 

The proof-of-stake (PoS) consensus is a monitoring tool for the proof-of-work (PoH) processes, validating each block sequence it generates. Combining two consensus mechanisms distinguishes Solana as a singular phenomenon within the blockchain industry.

Solana (SOL) Current Market Status

According to CoinMarketCap, Solana (SOL) is hovering over $35.25 at the time of writing, with a total of 353,283,374 SOL in circulation. SOL has a 24-hour trading volume of $918,563,553.03, with a 32.49% increase. And during the past 24 hours, the price of SOL increased by 1.92%. 

The most popular exchanges to trade Solana (SOL) are Binance, OKX, BingX, MEXC, and Deepcoin. Let’s continue with our SOL price research for 2022.

Solana (SOL) Price Analysis 2022

By market capitalization, SOL ranks 9th on CoinMarketCap’s list of the biggest cryptocurrencies. Will Solana’s most recent improvements, additions, and modifications help the SOL price rise? First, let’s focus on the charts in this article’s SOL price forecast.

Solana (SOL) Price Analysis – Keltner Channel

SOL/USDT 1-Day Chart Showing Keltner Channel (Source: TradingView)
SOL/USDT 1-Day Chart Showing Keltner Channel (Source: TradingView)

When volatility bands are positioned on either side of an asset’s price, it is possible to determine a trend with the help of the Keltner Channel. Solana (SOL) price can be predicted using the Keltner Channel indications for SOL/USDT. The price is in the first half of the channel, meaning people are buying SOL rather than selling. For a better risk-free scenario, we should wait for a downturn or a better entry point to improve the reward-to-risk ratio.

Solana (SOL) Price Analysis – Relative Strength Index

SOL/USDT 1-Day Chart Showing Relative Strength Index (Source: TradingView)
SOL/USDT 1-Day Chart Showing Relative Strength Index (Source: TradingView)

During uptrends, the RSI tends to remain more stable than during downtrends. It makes sense, considering that the RSI tracks gains and losses. During an uptrend, there are more significant gains, maintaining a higher RSI. In contrast, the RSI tends to linger at lower levels. The value of the 1-Day chart is 53.5. The RSI tends to remain above 30 and should frequently reach 70 during an uptrend. 

During a downtrend, the RSI rarely exceeds 70 and regularly reaches 30 or falls below this barrier. These rules can help determine the strength of a trend and identify possible trend reversals.

Solana (SOL) Price Analysis – Moving Average

SOL/USDT 1-Day Chart Showing 200-MA and 50-MA (Source: TradingView)
SOL/USDT 1-Day Chart Showing 200-MA and 50-MA (Source: TradingView)

Above is a 1-Day Solana (SOL) 200-day and 50-day Moving Averages (MAs) chart. Looking at the chart above, SOL is now running sideways for a long period. The SOL 50-day MA is below the 200-day MA (long-term), indicating that the market is entirely bearish.

However, the distance between the two moving averages is wide. But the candlesticks are slowly touching 50-day MA, meaning that the price is heading for a reversal, but we need to consider that it’s still under 200-day MA. For an excellent risk-to-reward ratio, it is better to wait for a few reversal patterns for crypto investors. 

Solana (SOL) Price Prediction 2022

SOL/USDT 1-Day Chart  (Source: TradingView)
SOL/USDT 1-Day Chart  (Source: TradingView)

Looking at the daily chart of SOL/USDT, the SOL price was swinging from $30.49 to $36.04 within the past seven days after going to its lowest of the month at $30.05. Bouncing back from the support level, SOL is now going sideways, and we can expect the market to break out from the sideway soon.

Meanwhile, our long-term SOL price prediction for 2022 is bullish if it cannot break the support level. We can expect SOL to reach $59.53 this year.

Solana (SOL) Price – Resistance and Support Levels

SOL/USDT 1-Day Chart (Source: TradingView)
SOL/USDT 1-Day Chart (Source: TradingView)

The chart above shows that the price of SOL has decreased in the past few months. Moreover, SOL has been up by 9.86% in the past 24 hours. Suppose this price decrease is a retrace during the bull run. It might be breaking its $42.08 resistance 1 level and increasing to $47.53.

If SOL cannot break the $42.08 resistance 1 level, the bears may seize control and dethrone SOL to a downtrend stance. In simple terms, the price of SOL might fall to almost $19.94, indicating a negative signal from the previous support level.

Solana (SOL) Price Prediction 2023

Solana (SOL) could end the year 2022 with a relative strength index (RSI) value of more than 70. This shows that the trend is solid and bullish and will trade above $50 by 2022. Hence, we could expect the price of SOL to surge to at least $94.82 by the end of 2023, and more merchants could integrate SOL Pay into their payment systems.

Solana (SOL) Price Prediction 2024

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Since the Bitcoin trend affects the direction of trade of other cryptocurrencies, we could expect SOL to trade at a price not below $115.46 by the end of 2024.

Solana (SOL) Price Prediction 2025

We should expect the price of SOL to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to the Bitcoin halving over the previous year. Hence, SOL could end 2025 by trading at around $136.40.

Solana (SOL) Price Prediction 2026

Since the maximum supply of SOL is approached by 2026, the bearish market that follows a solid bullish run impacts its previous price due to the entrance of more institutional investors to its platform. With this, the cost of SOL could break the usual trend and trade at $165.48 by the end of 2026.

Solana (SOL) Price Prediction 2027

Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of SOL could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Therefore, SOL could trade at $202.91 by the end of 2027. 

Solana (SOL) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Solana (SOL) could hit $311.00 by the end of 2028. Also, SOL is likely to break its ATH value.

Solana (SOL) Price Prediction 2029

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of SOL to $485.90 by the end of 2029.

Solana (SOL) Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Solana (SOL) to trade at around $660.80 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Conclusion

SOL might reach $50 in 2022 and $660 by 2030 if investors decide that SOL is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is Solana (SOL)?

Solana is a powerful open-source project that offers DeFi (decentralized financial infrastructure) solutions by leveraging the permissionless nature of blockchain technology. The Solana Foundation, based in Geneva, Switzerland, began conceptualizing and working on Solana in 2017 and officially launched in March 2020. The Solana protocol makes it easier to develop decentralized applications (DApps). To increase scalability, a proof-of-history (PoH) consensus is introduced and layered on top of the blockchain’s underlying proof-of-stake (PoS) consensus. The Solana Foundation has devoted a lot of resources to spreading the use of decentralized financial systems.

How to buy SOL tokens?

SOL can be traded on many exchanges like other digital assets in the crypto world. Binance, OKX, BingX, MEXC, and Deepcoin are currently the most popular cryptocurrency exchanges for trading SOL. 

Will SOL surpass its current ATH?

Since SOL provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2022. Notably, SOL has a high possibility of surpassing its current ATH in 2028.

Can SOL reach $300 soon?

SOL is one of the few active crypto assets that continue to rise in value. As long as this bullish trend continues, SOL might break through $90 and reach as high as $300. Of course, if the current market favoring crypto continues, it will likely happen.

Is SOL a good investment in 2022?

SOL is expected to continue its upward trend as one of the fastest-rising cryptocurrencies. We may also conclude that SOL is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.

What Is the lowest price of SOL?

The lowest SOL price is $0.5052, attained on January 14, 2020, according to CoinMarketCap.

Which year was SOL launched?

SOL was launched in 2020.

Who are the co-founders of SOL?

Anatoly Yakovenko co-founded SOL.

What is the maximum supply of SOL?

No data.

How do I store SOL?

SOL can be stored in a cold wallet, hot wallet, or exchange wallet.

What will be the SOL price in 2023?

SOL price is expected to reach $94.82 by 2023.

What will be the SOL price in 2024?

SOL price is expected to reach $115.46 by 2024.

What will be the SOL price in 2025?

SOL price is expected to reach $136.10 by 2025.

What will be the SOL price in 2026?

SOL price is expected to reach $165.48 by 2026.

What will be the SOL price in 2027?

SOL price is expected to reach $202.91 by 2027.

What will be the SOL price in 2028?

SOL price is expected to reach $311.00 by 2028.

What will be the SOL price in 2029?

SOL price is expected to reach $485.90 by 2029.

What will be the SOL price in 2030?

SOL price is expected to reach $660.80 by 2030.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

More Crypto Price Predictions:

  • Bullish Solana (SOL) price prediction ranges from $34.41 to $59.53.
  • Analysis suggests that the SOL price might reach above $60 soon.
  • The SOL bearish market price prediction for 2022 is $19.94.

Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies, Solana (SOL) is one of them.

Solana is an open-source, public blockchain that facilitates using smart contracts, decentralized applications (dApps), and NFTs (non-fungible tokens). The SOL token, which is intrinsic to the Solana blockchain, serves as a means of exchange and ensures the safety of the network via staking.

If you are interested in the future of SOL and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030, keep reading!

What Is Solana (SOL)? 

Solana is a powerful open-source project that offers DeFi (decentralized financial infrastructure) solutions by leveraging the permissionless nature of blockchain technology. The Solana Foundation, based in Geneva, Switzerland, began conceptualizing and working on Solana in 2017, and the platform was officially launched in March 2020.

The Solana protocol makes it easier to develop decentralized applications (DApps). To increase scalability, a proof-of-history (PoH) consensus is introduced and layered on top of the blockchain’s underlying proof-of-stake (PoS) consensus. The Solana Foundation has devoted a lot of resources to spreading the use of decentralized financial systems.

Solana is well-known in the cryptocurrency space due to the blockchain’s incredibly rapid transaction processing. The hybrid protocol utilized by Solana significantly reduces validation and execution times for both transactions and smart contracts. Solana has attracted a great deal of institutional interest due to its blazing-fast processing times. 

The Solana protocol is designed to serve both casual users and large businesses. According to one of Solana’s primary promises, customers will not be surprised by increased fees and taxes, and the protocol creates low transaction costs while ensuring scalability and rapid processing.

Solana utilizes proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms. Proof-of-history is essential to the Solana protocol, as it handles most transaction processing. PoH logs successful operations and the interval of time between them, ensuring the blockchain’s lack of trustworthiness. 

The proof-of-stake (PoS) consensus is a monitoring tool for the proof-of-work (PoH) processes, validating each block sequence it generates. Combining two consensus mechanisms distinguishes Solana as a singular phenomenon within the blockchain industry.

Solana (SOL) Current Market Status

According to CoinMarketCap, Solana (SOL) is hovering over $35.25 at the time of writing, with a total of 353,283,374 SOL in circulation. SOL has a 24-hour trading volume of $918,563,553.03, with a 32.49% increase. And during the past 24 hours, the price of SOL increased by 1.92%. 

The most popular exchanges to trade Solana (SOL) are Binance, OKX, BingX, MEXC, and Deepcoin. Let’s continue with our SOL price research for 2022.

Solana (SOL) Price Analysis 2022

By market capitalization, SOL ranks 9th on CoinMarketCap’s list of the biggest cryptocurrencies. Will Solana’s most recent improvements, additions, and modifications help the SOL price rise? First, let’s focus on the charts in this article’s SOL price forecast.

Solana (SOL) Price Analysis – Keltner Channel

SOL/USDT 1-Day Chart Showing Keltner Channel (Source: TradingView)
SOL/USDT 1-Day Chart Showing Keltner Channel (Source: TradingView)

When volatility bands are positioned on either side of an asset’s price, it is possible to determine a trend with the help of the Keltner Channel. Solana (SOL) price can be predicted using the Keltner Channel indications for SOL/USDT. The price is in the first half of the channel, meaning people are buying SOL rather than selling. For a better risk-free scenario, we should wait for a downturn or a better entry point to improve the reward-to-risk ratio.

Solana (SOL) Price Analysis – Relative Strength Index

SOL/USDT 1-Day Chart Showing Relative Strength Index (Source: TradingView)
SOL/USDT 1-Day Chart Showing Relative Strength Index (Source: TradingView)

During uptrends, the RSI tends to remain more stable than during downtrends. It makes sense, considering that the RSI tracks gains and losses. During an uptrend, there are more significant gains, maintaining a higher RSI. In contrast, the RSI tends to linger at lower levels. The value of the 1-Day chart is 53.5. The RSI tends to remain above 30 and should frequently reach 70 during an uptrend. 

During a downtrend, the RSI rarely exceeds 70 and regularly reaches 30 or falls below this barrier. These rules can help determine the strength of a trend and identify possible trend reversals.

Solana (SOL) Price Analysis – Moving Average

SOL/USDT 1-Day Chart Showing 200-MA and 50-MA (Source: TradingView)
SOL/USDT 1-Day Chart Showing 200-MA and 50-MA (Source: TradingView)

Above is a 1-Day Solana (SOL) 200-day and 50-day Moving Averages (MAs) chart. Looking at the chart above, SOL is now running sideways for a long period. The SOL 50-day MA is below the 200-day MA (long-term), indicating that the market is entirely bearish.

However, the distance between the two moving averages is wide. But the candlesticks are slowly touching 50-day MA, meaning that the price is heading for a reversal, but we need to consider that it’s still under 200-day MA. For an excellent risk-to-reward ratio, it is better to wait for a few reversal patterns for crypto investors. 

Solana (SOL) Price Prediction 2022

SOL/USDT 1-Day Chart  (Source: TradingView)
SOL/USDT 1-Day Chart  (Source: TradingView)

Looking at the daily chart of SOL/USDT, the SOL price was swinging from $30.49 to $36.04 within the past seven days after going to its lowest of the month at $30.05. Bouncing back from the support level, SOL is now going sideways, and we can expect the market to break out from the sideway soon.

Meanwhile, our long-term SOL price prediction for 2022 is bullish if it cannot break the support level. We can expect SOL to reach $59.53 this year.

Solana (SOL) Price – Resistance and Support Levels

SOL/USDT 1-Day Chart (Source: TradingView)
SOL/USDT 1-Day Chart (Source: TradingView)

The chart above shows that the price of SOL has decreased in the past few months. Moreover, SOL has been up by 9.86% in the past 24 hours. Suppose this price decrease is a retrace during the bull run. It might be breaking its $42.08 resistance 1 level and increasing to $47.53.

If SOL cannot break the $42.08 resistance 1 level, the bears may seize control and dethrone SOL to a downtrend stance. In simple terms, the price of SOL might fall to almost $19.94, indicating a negative signal from the previous support level.

Solana (SOL) Price Prediction 2023

Solana (SOL) could end the year 2022 with a relative strength index (RSI) value of more than 70. This shows that the trend is solid and bullish and will trade above $50 by 2022. Hence, we could expect the price of SOL to surge to at least $94.82 by the end of 2023, and more merchants could integrate SOL Pay into their payment systems.

Solana (SOL) Price Prediction 2024

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Since the Bitcoin trend affects the direction of trade of other cryptocurrencies, we could expect SOL to trade at a price not below $115.46 by the end of 2024.

Solana (SOL) Price Prediction 2025

We should expect the price of SOL to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to the Bitcoin halving over the previous year. Hence, SOL could end 2025 by trading at around $136.40.

Solana (SOL) Price Prediction 2026

Since the maximum supply of SOL is approached by 2026, the bearish market that follows a solid bullish run impacts its previous price due to the entrance of more institutional investors to its platform. With this, the cost of SOL could break the usual trend and trade at $165.48 by the end of 2026.

Solana (SOL) Price Prediction 2027

Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of SOL could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Therefore, SOL could trade at $202.91 by the end of 2027. 

Solana (SOL) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Solana (SOL) could hit $311.00 by the end of 2028. Also, SOL is likely to break its ATH value.

Solana (SOL) Price Prediction 2029

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of SOL to $485.90 by the end of 2029.

Solana (SOL) Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Solana (SOL) to trade at around $660.80 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Conclusion

SOL might reach $50 in 2022 and $660 by 2030 if investors decide that SOL is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is Solana (SOL)?

Solana is a powerful open-source project that offers DeFi (decentralized financial infrastructure) solutions by leveraging the permissionless nature of blockchain technology. The Solana Foundation, based in Geneva, Switzerland, began conceptualizing and working on Solana in 2017 and officially launched in March 2020. The Solana protocol makes it easier to develop decentralized applications (DApps). To increase scalability, a proof-of-history (PoH) consensus is introduced and layered on top of the blockchain’s underlying proof-of-stake (PoS) consensus. The Solana Foundation has devoted a lot of resources to spreading the use of decentralized financial systems.

How to buy SOL tokens?

SOL can be traded on many exchanges like other digital assets in the crypto world. Binance, OKX, BingX, MEXC, and Deepcoin are currently the most popular cryptocurrency exchanges for trading SOL. 

Will SOL surpass its current ATH?

Since SOL provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2022. Notably, SOL has a high possibility of surpassing its current ATH in 2028.

Can SOL reach $300 soon?

SOL is one of the few active crypto assets that continue to rise in value. As long as this bullish trend continues, SOL might break through $90 and reach as high as $300. Of course, if the current market favoring crypto continues, it will likely happen.

Is SOL a good investment in 2022?

SOL is expected to continue its upward trend as one of the fastest-rising cryptocurrencies. We may also conclude that SOL is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.

What Is the lowest price of SOL?

The lowest SOL price is $0.5052, attained on January 14, 2020, according to CoinMarketCap.

Which year was SOL launched?

SOL was launched in 2020.

Who are the co-founders of SOL?

Anatoly Yakovenko co-founded SOL.

What is the maximum supply of SOL?

No data.

How do I store SOL?

SOL can be stored in a cold wallet, hot wallet, or exchange wallet.

What will be the SOL price in 2023?

SOL price is expected to reach $94.82 by 2023.

What will be the SOL price in 2024?

SOL price is expected to reach $115.46 by 2024.

What will be the SOL price in 2025?

SOL price is expected to reach $136.10 by 2025.

What will be the SOL price in 2026?

SOL price is expected to reach $165.48 by 2026.

What will be the SOL price in 2027?

SOL price is expected to reach $202.91 by 2027.

What will be the SOL price in 2028?

SOL price is expected to reach $311.00 by 2028.

What will be the SOL price in 2029?

SOL price is expected to reach $485.90 by 2029.

What will be the SOL price in 2030?

SOL price is expected to reach $660.80 by 2030.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

More Crypto Price Predictions:

 

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